Twenty prop firm rulebooks, one schema

Two evaluations can advertise the same number for the profit target, the same number for maximum loss, and behave nothing alike.

That is not an accident of marketing. It is because "10% maximum loss" is three different rules depending on things the headline does not say: whether the floor moves, whether it moves against the equity peak or the balance peak, and whether it moves intraday or once at settlement. One trader passes a $100k account on 10% loss and an identical trade sequence fails another. Nothing in the number told them apart.

I spent a while putting twenty of these side by side. The interesting part was not the figures. It was how many fields have to exist before a comparison is honest.

The fields that actually decide the outcome

Roughly in order of how often they change the answer:

Field Why it changes the outcome

Drawdown model static , trailing_eod , trailing_intraday .…